Envestnet, Inc. (NYSE:ENV) Short Interest Update

Envestnet, Inc. (NYSE:ENV) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totalling 2,660,000 shares, a growth of 14.7% from the July 15th total of 2,320,000 shares. Based on an average daily volume of 932,800 shares, the short-interest ratio is currently 2.9 days.

Envestnet Stock Down 0.4 %

ENV stock traded down $0.25 during midday trading on Friday, hitting $62.65. The stock had a trading volume of 631,749 shares, compared to its average volume of 708,217. The business has a 50-day moving average of $62.01 and a two-hundred day moving average of $59.78. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of -17.60 and a beta of 1.28. Envestnet has a 52-week low of $33.12 and a 52-week high of $73.04.

Envestnet (NYSE:ENV) last announced its earnings results on Friday, August 9th. The business services provider reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.07). The business had revenue of $348.30 million for the quarter, compared to the consensus estimate of $342.90 million. Envestnet had a negative net margin of 15.33% and a positive return on equity of 14.75%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.22 EPS. As a group, equities research analysts forecast that Envestnet will post 1.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ENV shares. StockNews.com began coverage on Envestnet in a research note on Friday. They set a “sell” rating for the company. Raymond James cut shares of Envestnet from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, July 17th. William Blair reissued a “market perform” rating on shares of Envestnet in a research note on Thursday, July 11th. UBS Group reiterated a “neutral” rating and set a $63.15 price target (down from $75.00) on shares of Envestnet in a report on Tuesday, July 16th. Finally, DA Davidson cut Envestnet from a “buy” rating to a “neutral” rating and cut their target price for the stock from $78.00 to $63.00 in a research note on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.88.

Hedge Funds Weigh In On Envestnet

Institutional investors and hedge funds have recently made changes to their positions in the business. YHB Investment Advisors Inc. purchased a new stake in shares of Envestnet in the 1st quarter worth approximately $38,000. Innealta Capital LLC purchased a new stake in Envestnet during the 2nd quarter valued at $46,000. Quest Partners LLC bought a new position in shares of Envestnet during the 4th quarter valued at $58,000. SG Americas Securities LLC purchased a new position in Envestnet in the first quarter worth about $168,000. Finally, Federated Hermes Inc. boosted its holdings in shares of Envestnet by 80.0% in the second quarter. Federated Hermes Inc. now owns 2,700 shares of the business services provider’s stock worth $169,000 after buying an additional 1,200 shares during the last quarter.

Envestnet Company Profile

Envestnet, Inc, through its subsidiaries, provides wealth management software and services in the United States and internationally. It operates through two segments: Envestnet Wealth Solutions and Envestnet Data & Analytics. The Envestnet Wealth Solutions segment offers Envestnet | Enterprise, an end-to-end open architecture wealth management platform, as well as offers data aggregation and reporting, data analytics, and digital advice capabilities; Envestnet | Wealth Analytics that transforms data into actionable intelligence; Envestnet | Tamarac which provides trading, rebalancing, portfolio accounting, performance reporting, and client relationship management software; and Envestnet | MoneyGuide that provides goals-based financial planning solutions to the financial services industry.